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Headline : Hilton owners mull converting building to retail hub, hostels

Read more from the original article on here at www.businessdailyafrica.com.





Tags : #hilton #owners #mull #converting #building #retail #hub #hostels


No. of Paragraph 22

The iconic Hilton Hotel building within Nairobi city centre that is up for sale could be repurposed for retail shops and student accommodation if a suggestion by its owners goes through.

The government and Hilton International Limited, who have a joint stake in the property, said the building could be used for other activities in response to changing market conditions and occupational demand.

“The key investment characteristics that highlight the capital value of the property and the asset management opportunity presented by the former Hilton Hotel are the opportunity to configure the retail space to provide more floor area for additional retailers,” the pair jointly stated.

Currently, the retail section of the building measures 28,458 square feet and has an 82 percent occupancy rate with tenants such as Cooperative Bank of Kenya, Bata Shoe Company, Lintons Place Limited, City Walk Limited, G4S Limited, Healthy U, Baus Optical and Goodlife Pharmacy Limited.

Read more from the original article on here at www.businessdailyafrica.com.


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